Brics “mania” over, says Ruchir Sharma

Ruchir Sharma, head of global macro and emerging-market equities at Morgan Stanley Investment Management in New York, describes the current decade for investors as a post-Brics world’.

“My argument for investors is the reverse of what it would have been 10 years ago,” Sharma says. “Every decade has had a theme that captures everyone’s imagination,” such as tech in the 90s, Japan in the 80s and natural resources in the 70s. For each period, these...

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